Penang – Your Next Investment Destination in the Services Sector

Evolving from the early years of the Straits Settlements, Penang has become a vibrant location for regional and international trade and businesses. Its excellent infrastructure support, encompassing the sea port, airport, highways and telecommunication network coupled with skilled knowledge workers and friendly people have helped make the environment conducive for investors looking to set up their business in the services sector in the Pearl of the Orient.

Promoted Services Sectors in Penang

Heath & Wellness

A thriving sector in Penang encompassing medical/ recuperative/ healthcare and wellness with extensive market potential beyond the shores, particularly in IMT-GT and ASEAN. As one of the leading medical hubs in Malaysia that attracts regional and international clients, Penang offers great investment potentials in western, traditional eastern and Muslim (Halal) medicines and healthcare.

Tourism / Hospitality / MICE / MM2H Projects

The recent award of the World Heritage Site by UNESCO has enhanced Penang as a preferred destination for both short visit as well as long stay tourists. Transforming from the traditional sectors in hotels, shopping and recreational facilities, are emerging potential investments in eco / heritage tourism projects, MICE (meetings, incentives, conference and exhibitions) and MM2H (Malaysia My Second Home).

International Education

The current State Government’s strategy to make Penang a niche international city and a habitat of choice offers wide investment opportunities in international education at various academic levels.

Regional Headquarters

Riding on the expansion waves of multinationals as well as home grown large companies, Penang provides a conducive environment for the setting up of regional headquarters and the development of support facilities and services including the formation of international procurement centers (IPC) or regional distribution centers (RDC).

Professional Services

A growing segment in the services sector is the provision of professional services covering financial, accounting, law, engineering, architectural and management consultancy, training and project management. With the establishment of the Malaysian Multimedia Super Corridor in the Penang Cybercity, delivery of these services have also been expanded globally via Business Process Outsourcing (BPO) and Shared Services Outsourcing (SSO) channels.

Logistics Services

As the designated logistics hub in the Northern Economic Corridor of Malaysia coupled with its international airport, seaport and highways, Penang offers great investment potential in the logistics and transportation sector. Centrally located in the Indonesia- Malaysia- Thailand Growth Triangle (IMT-GT), Penang also serves as a gateway to southern Thailand and Northern Indonesia.